Book Notes · Markets & money
Flash Boys (Michael Lewis)
Michael Lewis's 2014 story of Brad Katsuyama, high-frequency trading and latency arbitrage: disappearing quotes, the Spread Networks cable, the Thor router, IEX's 350-microsecond speed bump, and the debate over whether HFT helps or harms investors.
Step 1 of 6 · Overview30 min read ·
Key idea
Prereqs: Market microstructure. Next: The Man Who Solved the Market. Source: Michael Lewis, *Flash Boys: A Wall Street Revolt* (2014); 60 Minutes, 'Is the U.S. stock market rigged?' (2014); SEC Regulation NMS (2005).Next: 1. The puzzle